Amprius Technologies (NYSE:AMPX) Stock Price Down 5.8% – Should You Sell?

Amprius Technologies, Inc. (NYSE:AMPX) shares were down 5.8% on Friday . The stock traded as low as $16.74 and last traded at $16.8260. Approximately 5,885,444 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 8,880,786 shares. The stock had previously closed at $17.87.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMPX shares. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Amprius Technologies in a research report on Tuesday, March 10th. Northland Securities set a $24.00 target price on Amprius Technologies in a research report on Monday, May 11th. Roth Mkm reaffirmed a “buy” rating on shares of Amprius Technologies in a research report on Friday, May 8th. B. Riley Financial raised their target price on Amprius Technologies from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, Wall Street Zen cut Amprius Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Amprius Technologies Stock Down 5.8%

The company has a market capitalization of $2.38 billion, a P/E ratio of -56.08 and a beta of 2.20. The stock has a fifty day simple moving average of $18.26 and a 200-day simple moving average of $13.46.

Amprius Technologies (NYSE:AMPX) last announced its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Amprius Technologies had a negative net margin of 43.98% and a negative return on equity of 17.48%. The business had revenue of $28.54 million during the quarter, compared to analyst estimates of $25.72 million. Analysts predict that Amprius Technologies, Inc. will post -0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Wen Hsuan Hsieh sold 413,146 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $18.44, for a total value of $7,618,412.24. Following the completion of the sale, the director directly owned 44,444 shares in the company, valued at approximately $819,547.36. This trade represents a 90.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kang Sun sold 1,500,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $15.91, for a total value of $23,865,000.00. Following the completion of the sale, the director owned 1,342,400 shares of the company’s stock, valued at approximately $21,357,584. This trade represents a 52.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,539,829 shares of company stock valued at $42,323,376. 5.10% of the stock is owned by corporate insiders.

Institutional Trading of Amprius Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Amprius Technologies by 9.5% in the fourth quarter. Vanguard Group Inc. now owns 7,128,657 shares of the company’s stock valued at $56,245,000 after buying an additional 616,037 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Amprius Technologies by 10.5% in the fourth quarter. Geode Capital Management LLC now owns 2,678,417 shares of the company’s stock valued at $21,137,000 after buying an additional 253,529 shares in the last quarter. State Street Corp increased its stake in shares of Amprius Technologies by 16.6% in the fourth quarter. State Street Corp now owns 2,553,710 shares of the company’s stock valued at $20,149,000 after buying an additional 363,928 shares in the last quarter. Invesco Ltd. increased its position in Amprius Technologies by 113.3% in the third quarter. Invesco Ltd. now owns 2,379,384 shares of the company’s stock worth $25,031,000 after purchasing an additional 1,263,846 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Amprius Technologies by 23.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,194,841 shares of the company’s stock worth $17,317,000 after purchasing an additional 410,724 shares during the period. 5.04% of the stock is currently owned by institutional investors and hedge funds.

Amprius Technologies Company Profile

Amprius Technologies, Inc (NYSE: AMPX) is a U.S.-based developer of high-energy-density lithium-ion batteries that leverage silicon anode technology to deliver performance levels beyond conventional graphite-based cells. The company’s batteries are designed to offer industry-leading gravimetric energy density, enabling longer run times and reduced weight for portable power applications. Amprius blends advanced materials science and scalable manufacturing processes to commercialize next-generation battery solutions.

At the core of Amprius’ product portfolio are cylindrical and prismatic cells that employ a proprietary silicon nanowire anode, which supports high charge/discharge rates while maintaining cycle life.